GM to End Salaried Workers' Pension
GM To Sell Stake in Suzuki
Salaried workers are being shifted from a defined benefit (traditional pension) plan to a defined contribution (401k type) plan. This move is expected to save a bout a half billion dollars.
Yesterday it was announced that GM was selling its stake in Suzuki. Proceeds from the sale of the Suzuki shares should generate about $2 billion.
GM to revamp pensions, sells most of Suzuki stake - 03/07/06 - The Detroit News
Wednesday, March 08, 2006
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